diff -Naur a/tools/build/v2/tools/darwin.jam b/tools/build/v2/tools/darwin.jam
--- a/tools/build/v2/tools/darwin.jam	2010-07-12 00:37:43.000000000 -0700
+++ b/tools/build/v2/tools/darwin.jam	2015-12-04 10:04:07.000000000 -0800
@@ -33,6 +33,8 @@
 ## A dependency, that is forced to be included in the link.
 feature force-load : : free dependency incidental ;
 
+flags darwin.link INSTALL_NAME_PATH <dll-path> ;
+
 #############################################################################
 
 if [ MATCH (--debug-configuration) : [ modules.peek : ARGV ] ]
@@ -540,7 +542,7 @@
 
 actions link.dll bind LIBRARIES
 {
-    "$(CONFIG_COMMAND)" -dynamiclib -Wl,-single_module -install_name "$(<:B)$(<:S)" -L"$(LINKPATH)" -o "$(<)" "$(>)" "$(LIBRARIES)" -l$(FINDLIBS-SA) -l$(FINDLIBS-ST) $(FRAMEWORK_PATH) -framework$(_)$(FRAMEWORK:D=:S=) $(OPTIONS) $(USER_OPTIONS)
+    "$(CONFIG_COMMAND)" -dynamiclib -Wl,-single_module -install_name "$(INSTALL_NAME_PATH[1])/$(<[1]:B)$(<[1]:S)" -L"$(LINKPATH)" -o "$(<)" "$(>)" "$(LIBRARIES)" -l$(FINDLIBS-SA) -l$(FINDLIBS-ST) $(FRAMEWORK_PATH) -framework$(_)$(FRAMEWORK:D=:S=) $(OPTIONS) $(USER_OPTIONS)
 }
 
 # We use libtool instead of ar to support universal binary linking